Offer OKd: Shareholders of Hongkong and Shanghai Bank's...

June 10, 1992

Offer OKd: Shareholders of Hongkong and Shanghai Bank`s parent approved a $7.1 billion offer for Britain`s Midland Bank, Hongkong and Shanghai Chairman William Purves said. He gave no details. The vote clears another hurdle for Hongkong and Shanghai in its aim to create one of the world`s 10 biggest banks, operating in Asia, Europe and North America. The combined group would have headquarters in London.